The Durable Power of Attorney is used in estate planning to prepare for a time when you may become incapacitated. This could happen because of a physical injury sustained in an accident, stroke, or other medical issue, or because of a mental illness. While a regular power of attorney becomes null and void if the grantor becomes unable to revoke the authority, the durable power of attorney gives the recipient the ability and power to make decisions on behalf of the grantor until the grantor’s death. This legal document gives another the power to legally act in your place in financial decisions. The person named in a Durable Power of Attorney can take care of paying your bills, investing your money, and more, if you become incapacitated. Attorney Thomas R. Mullen of Quincy, Massachusetts can help you to set up a Durable Power of Attorney if you so wish. Attorney Mullen can also provide legal advice on writing wills, probate, or Special Needs Trusts.
This document will give the person that you name the power to handle your financial transactions on your behalf in the event you become unable to act for yourself. In some circumstances, this power of attorney is only for a single transaction, such as the sale of property. In most circumstances, however, the financial power of attorney covers all financial transactions, from paying the light bill to buying a house. The person who you name will have the power to make financial decisions with your money and property as though they were you. They will be able to handle your tax returns, investments, and retirement funds, as well as read and answer your mail. Of course, the person named in any durable power of attorney must sh be someone you trust to take care of your business as you would. If you don’t trust them with your money, don’t use them ! If you need a durable power of attorney for finances, Attorney Thomas R. Mullen can help.
Since they really are an extraordinary power, giving someone to control all your finances, the authority is limited to exactly what you say. So the authority to do all things necessary” is really no power at all. In Massachusetts, for some strange reason, the Durable Power of Attorney does not need to be witnessed, nor notarizes. It is best to do so however, in order
To protect your assets from a thief who might simply forge y0ur name. If you own a home and wish to give someone the authority to sell it for you…not now of course, but later on, be sure you spell everything out including the address of your home. Also the Durable Power of Attorney has to be filed along with the new deed…a copy just won’t do. Best place to keep it until you need it is with your attorney.
